Szijjarto said the last piece of track along a 150km stretch built by civil engineering company V-Hid and its partners had been laid. He added that the upgraded rail line would be completed by the end of 2025.

The project, with a cost of around HUF 800bn, will be the "most competitive" freight route for bringing goods from Asia from ports in the south of Europe to Western Europe, he added.

Szijjarto said Hungary's economy had profited much from acting as an economic "meeting point" between East and West in recent years. He added that annual bilateral trade between the European Union and China stood at around EUR 800bn, while trade with all of Asia reached several thousand billion euros, and much of the goods from Asia arrived by freighter at ports in Southern Europe.

Sandor Font, an MP representing Kiskoros's district, noted that Hungary was partnering with Serbia and China on the construction of the double track.

In addition to the Budapest-Belgrade rail line upgrade, V-Hid Group has also started work on a close to EUR 1bn railway project in the south of the capital, owner Lorinc Meszaros said. Showcasing some of the company's heavy machinery, he said V-Hid had spent over EUR 100m on equipment.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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